Economic boost for Cheltenham thanks to CityFibre’s full fibre rollout

City communications

Economic boost for Cheltenham thanks to CityFibre’s full fibre rollout

24 November 2022

City Fibre Cheltenham Neil Madle

A new report commissioned by CityFibre, the UK’s largest independent full fibre platform, has identified that Cheltenham stands to be a huge beneficiary from the rollout of future-proof full fibre infrastructure which is now well underway across the town.

The study by the consultancy Hatch, (Economic Impact of Full Fibre Infrastructure from CityFibre’s Network), estimates that, over a fifteen-year period, the positive impacts of CityFibre’s £30m investment in Cheltenham will include £145m in productivity and innovation gains, £32m from a widened workforce, £665k in Local Authority efficiency savings and £130m in increased housing value.

Technological benefits are also a major focus of the report, which demonstrates that CityFibre’s network in Cheltenham will help unlock £344m in gross added value (GVA) from 5G services, £93m from the Internet of Things and £61m from Smart City initiatives, like intelligent traffic management systems and street lighting.

The continuing transition to home and flexible working, supported by full fibre access at home and in the office, is also unlocking access to a larger pool of labour for employers. In Cheltenham working productivity uplifts are estimated to exceed £8m.

The direct impact of network construction is also identified as a major contributor of Cheltenham’s economic growth, creating network construction jobs within CityFibre’s build partners and supply chain. Wherever possible, the new jobs will be recruited locally to support the rollout.

The UK, as a whole, stands to benefit from over £38bn in potential economic benefits. Productivity improvements and innovation are responsible for the largest impact, driving more than £22bn in GVA gains nationwide. This is due to the positive effect that far faster and more reliable digital connectivity has been shown to have on business productivity and innovation, increasing turnover and contributing to the formation of new businesses and business models.

Neil Madle, Area Manager for Cheltenham at CityFibre, said: “I’m proud of our investment in Cheltenham and pleased to see the progress we’re making. Full fibre is an essential catalyst for growth, but the findings within the Hatch report truly demonstrate just how powerful it is as a platform for innovation, ensuring Cheltenham is well-equipped for the digital age.

“I can’t wait for residents and businesses to benefit from the many opportunities that full fibre connectivity will bring, now and in the future.”

Alex Chalk, Conservative Member of Parliament for Cheltenham, said: “I welcome CityFibre’s network rollout, which will help Cheltenham become one of the best-connected communities in the world. We are in a global competition for jobs and investment, and this vital infrastructure helps make Cheltenham an even better place to live, work and visit.”

The network is now live in Cheltenham, with services currently available from TalkTalk with more broadband providers expended to join the network soon. Across the UK, CityFibre is already working with launch partner, Vodafone, to deliver next generation broadband services, as well as TalkTalk, Giganet, Zen and IDNet, with more expected to join the network soon.

Residents interested in giving their home broadband a boost can find out more about the build and register their interest here.